Norish shares drop as MD announces retirement

12th May 2015 15:47

The long-running managing director of AIM-listed Norish is to step down at the end of the year, the multi-temperature warehousing and logistics company said on Tuesday.Norman Hatcliff, who has 40 years of experience in the temperature controlled storage and logistics sector, 15 of which have been with Norish, has announced his intention to retire.The group said Hatcliff has made an "enormous contribution" to Norish's growth and development during his tenure and leaves the company in a "very strong and healthy position" with a newly-appointed management team."The board of the company wishes to place on record it's thanks to Norman for his outstanding contribution to the business, for his friendship, integrity and leadership and wish him a long, happy and fulfilling retirement," the company added.Investors took the news badly, with shares down 6.7% at 42p in London.